ICICI bank welcomes Repo rate cut

Published: Monday, October 20, 2008, 16:44 [IST]

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Mumbai, Oct 20 (UNI) ICICI Bank Jt Managing Director Chanda Kochhar today welcomed the one per cent cut in the repo rate by the RBI and said it signalled the Apex Bank focus on ensuring sufficient liquidity and smooth functioning of financial markets to support growth.

''This is clearly an easing of monetary policy but the impact on lending and deposit rates will have to be seen over time'', she said in a statement here.